Markets Consolidate Around 5700 Mark

The Indian markets turned into the positive territory after making a negative start tracking weak global cues. In the morning trading session at 10:10 AM, the Nifty is trading higher by 13 points at 5702 and Sensex is trading higher by 48 points at 18,779. Both the indices are trading up in the range of 0.25% to 0.26%.

The advance-decline ratio is on the positive side in the morning trading session. On the NSE, 654 shares are trading in green and 430 shares are trading in red. 

Top 5 NSE Gainers: Bharti Airtel is the top gainer on the NSE, trading up by 3.34%, followed by Bharat Petroleum, Ranbaxy Labs, NTPC and HDFC.

Top 5 NSE Losers: Hero Motocorp is trading down by 1.90% and is among the top losers on the NSE, followed by Hindalco Industries, NMDC, Jindal Steel and Power and Axis Bank.  

Among the sectoral indices, most sectors are trading in green. Capital Goods, FMCG and Realty are trading firm in the morning trading session. Metals and Auto are under selling pressure. 

Meanwhile, the Asian markets are in red. KOSPI is trading lower by 0.78%, followed by Japan’s Nikkei 225, trading lower by 0.45% at 13,332 and Shanghai Composite trading lower by 0.16%.  

Buzzers: Orchid Chemical and Pharmaceuticals has rallied about 3% to Rs 68.60, extending its previous day’s 5% rally after the company announced that its Cephalosporin API manufacturing complex located in Alathur has cleared the US Food and Drug Administration (USFDA) inspection. 

Tata Consultancy Services is trading lower by 0.94% at Rs 1443 after reporting 1.9% QoQ growth in its consolidated net profit at Rs 3,597 crore for the January-March 2013 quarter. 

Nifty in the morning trading session is witnessing a range bound trade. The market needs to break the range of 5730 on the higher side, for a fresh upmove.